Et profilbilde

Professor
Reidar Brumer Bratvold { "honorific-suffix": "Professor", "fn": "Reidar Brumer Bratvold", "tel": "Telephone: +47 5183 2260", "email": "reidar.bratvold@uis.no" }

Faculty Faculty of Science and Technology
Department Department of Petroleum Technology
Room KE E-396
Priv. phone/mob +4797651969

Research fields

Teaching/Research Interest:

Decision Analysis, Representing and Solving Decision Problems in the Upstream Oil & Gas Industry, Real Option Valuation, Petroleum Resource Management, Portfolio Analysis, Behavioral Issues in Decision Making, Geostatistics, Probability and Statistics

Selected publications

Research in progress

Work experience

Scientific publications (from Cristin)

  • Hong, Aojie; Bratvold, Reidar Brumer (2017). Value of Information from History Matching—How Much Information is Enough?. In: 19th European Symposium on Improved Oil Recovery/IOR Norway 2017. European Association of Geoscientists and Engineers. ISBN 978-94-6282-209-2.
  • Hong, Aojie; Bratvold, Reidar Brumer; Nævdal, Geir (2017). Robust production optimization with capacitance-resistance model as precursor. Computational Geosciences. ISSN 1420-0597. Volume Published ahead of print. p. 1-20. DOI: 10.1007/s10596-017-9666-8.
  • Hong, Aojie; Bratvold, Reidar Brumer; Nævdal, Geir (2016). Robust Production Optimization with Capacitance-Resistance Model as Precursor. In: ECMOR XV - Proceedings of 15th European Conference on the Mathematics of Oil Recovery, Amsterdam, Netherlands, 29 August - 1 September, 2016. European Association of Geoscientists and Engineers. ISBN 978-94-6282-193-4.
  • Kullawan, Kanokwan; Bratvold, Reidar Brumer; Bickel, J. Eric (2016). Value Creation with Multi-Criteria Decision Making in Geosteering Operations. International Journal of Petroleum Technology. ISSN 2409-787X. Volume 3. Booklet 1. p. 15-31. DOI: 10.15377/2409-787X.2016.03.01.2.
  • Kullawan, Kanokwan; Bratvold, Reidar Brumer; Malagon, Camilo (2016). Decision-Oriented Geosteering and the Value of Look-Ahead Information - A Case Based Study. SPE Journal. ISSN 1086-055X. DOI: 10.2118/184392-PA.
  • Willigers, Bart J. A.; Begg, Steve; Bratvold, Reidar Brumer (2016). Appraising unconventional resources: How many wells to drill and where to place them?. SPE Reservoir Evaluation and Engineering. ISSN 1094-6470. Volume 19. Booklet 2. p. 340-349. DOI: 10.2118/179736-PA.
  • Jafarizadeh, Babak; Bratvold, Reidar Brumer (2015). Oil and Gas Exploration Valuation and the Value of Waiting. The Engineering Economist. ISSN 0013-791X. Volume 60. Booklet 4. p. 245-262. DOI: 10.1080/0013791X.2015.1045647.
  • Bratvold, Reidar B; Thomas, Philip; Begg, S.H. (2014). Robust Discretization of Continuous Probability Distributions for Value-of-Information Analyses. In: 2014, International Petroleum Technology Conference. International Petroleum Technology Conference. ISBN 978-1-61399-322-4.
  • Kullawan, Kanokwan; Bratvold, Reidar B; Bickel, James Eric (2014). A Decision Analytic Approach to Geosteering Operations. SPE Drilling & Completion. ISSN 1064-6671. Volume 29. Booklet 1. p. 36-46. DOI: 10.2118/167433-PA.
  • Thomas, Philip; Bratvold, Reidar B; Bickel, J. Eric (2014). The Risk of Using Risk Matrices. SPE Economics & Management. ISSN 2150-1173. Volume 6. Booklet 2. p. 56-66. DOI: 10.2118/166269-PA.
  • Willigers, BJA; Begg, S; Bratvold, Reidar B (2014). Combining geostatistics with Bayesian updating to continually optimize drilling strategy in shale-gas plays. SPE Reservoir Evaluation and Engineering. ISSN 1094-6470. Volume 17. Booklet 4. p. 507-519. DOI: 10.2118/164816-PA.
  • Jafarizadeh, Babak; Bratvold, Reidar B (2013). Sell Spot or Sell Forward? Analysis of Oil Trading Decisions Using the Two-Factor Price Model and Simulation. SPE Economics & Management. ISSN 2150-1173. Volume 5. Booklet 3. p. 80-88. DOI: 10.2118/165581-PA.
  • Engen, Ole Andreas H; Langhelle, Oluf; Bratvold, Reidar B (2012). Is Norway really Norway?. In: Beyond the Resource Curse. University of Pennsylvania Press. ISBN 978-0-8122-4400-7. p. 259-279.
  • Jafarizadeh, Babak; Bratvold, Reidar B (2012). Two-Factor Oil-Price Model and Real Option Valuation: An Example of Oilfield Abandonment. SPE Economics & Management. ISSN 2150-1173. Volume 4. Booklet 3. p. 158-170. DOI: 10.2118/162862-PA.
  • Giese, Martin; Bratvold, Reidar B (2011). Probabilistic Modeling for Decision Support in Integrated Operations. SPE Economics & Management. ISSN 2150-1173. Volume 3. Booklet 3. p. 173-185. DOI: 10.2118/127761-PA.
  • Rasheva, Svitlana; Bratvold, Reidar B (2011). A New and Improved Approach for Geological Dependency Evaluation for Multiple-Prospect Exploration. In: SPE Annual Technical Conference and Exhibition, 30 October-2 November 2011, Denver, Colorado, USA. Society of Petroleum Engineers. ISBN 978-1-61399-147-3.
  • Willigers, Bart J.A.; Begg, Steve; Bratvold, Reidar B (2011). Valuation of Swing Contracts by Least-Squares Monte Carlo Simulation. SPE Economics & Management. ISSN 2150-1173. Volume 3. Booklet 4. p. 215-255. DOI: http://dx.doi.org/10.2118/133044-PA.
  • Bratvold, Reidar B; Rajaieyamchee, Mohammad (2010). A Decision Analytic Framework for Autonomous Geosteering. In: http://www.spe.org. Society of Petroleum Engineers.
  • Bratvold, Reidar B; Begg, S.H.; Rasheva, Svitlana (2010). A New Approach to Uncertainty Quantification for Decision Making. In: 2010 SPE Hydrocarbon Economics and Evaluation Symposium - Global Volatility : Surviving & Thriving - HEES 2010. Society of Petroleum Engineers. ISBN 978-1-55563-282-3.
  • Giese, Martin; Bratvold, Reidar B (2010). Probabilistic Modeling for Decision Support in Integrated Operations. In: 2010 SPE Intelligent Energy Conference & Exhibition: Delivering Value - Creating Opportunities. Society of Petroleum Engineers. ISBN 978-1-55563-284-7.
  • Rajaieyamchee, Mohamad Ali; Bratvold, Reidar B; Badreddine, A. (2010). Bayesian Decision Networks for Optimal Placement of Horizontal Wells. In: 72nd EAGE Conference & Exhibition incorporating SPE EUROPEC 2010 Barcelona. European Association of Geoscientists and Engineers. ISBN 978-90-73781-86-3.
  • Willigers, B.J.A.; Hausken, Kjell; Bratvold, Reidar B (2010). Uncertainty and preferences in a joint E&P development program analyzed in a game theoretic framework. Journal of Petroleum Science and Engineering. ISSN 0920-4105. Volume 74. Booklet 1-2. p. 88-98. DOI: 10.1016/j.petrol.2010.08.013.
  • Bratvold, Reidar Brumer; Bickel, J. Eric; Lohne, Hans Petter (2009). Value of Information in the Oil and Gas Industry: Past, Present, and Future. SPE Reservoir Evaluation and Engineering. ISSN 1094-6470. Volume 12. Booklet 4. p. 630-638. DOI: 10.2118/110378-PA.
  • Bratvold, Reidar Brumer; Rajaieyamchee, Mohammad; Willigers, B.J.A. (2009). The right decision. Oil & gas journal. ISSN 0030-1388. Volume 10.
  • Jafarizadeh, Babak; Bratvold, Reidar Brumer (2009). Real Options Analysis in Petroleum Exploration and Production: A New Paradigm in Investment Analysis. In: SPE Europec/EAGE Annual Conference and Exhibition. Society of Petroleum Engineers.
  • Jafarizadeh, Babak; Bratvold, Reidar Brumer (2009). Strategic Decision Making in the Digital Oil Field. In: SPE Digital Energy Conference and Exhibition. Society of Petroleum Engineers.
  • Jafarizadeh, Babak; Bratvold, Reidar Brumer (2009). Taking Real Options into the Real World: Asset Valuation through Option Simulation. In: SPE Annual Technical Conference and Exhibition. Society of Petroleum Engineers.
  • Rajaieyamchee, Mohammad; Bratvold, Reidar Brumer (2009). Real-time Decision Support in Drilling Operations using Bayesian Decision Networks. In: SPE Annual Technical Conference and Exhibition. Society of Petroleum Engineers.
  • Willigers, B.J.A.; Bratvold, Reidar Brumer (2009). Valuing Oil and Gas Options by Least-Squares Monte Carlo Simulation. Oil and Gas Facilities. ISSN 1942-2431. Volume 4. Booklet 4. p. 146-155.
  • Willigers, Bart J. A.; Bratvold, Reidar Brumer; Hausken, Kjell (2009). A Game Theoretic Approach to Conflicting and Evolving Stakeholder Preferences in the E&P Industry. SPE Economics & Management. ISSN 2150-1173. Volume 1. Booklet 1. p. 19-26.
  • Arild, Øystein; Lohne, Hans Petter; Bratvold, Reidar Brumer (2008). A Monte Carlo Approach to Value of Information Evaluation. In: http://www.spe.org/. Society of Petroleum Engineers.
  • Begg, Steve; Bratvold, Reidar Brumer (2008). Systematic Prediction Errors in O&G Project and Portfolio Selection. In: http://www.spe.org/. Society of Petroleum Engineers. p. 1-12.
  • Fjellheim, Roar A.; Bratvold, Reidar Brumer; Herbert, MIke (2008). CODIO - Collaborative Decisionmaking in Integrated Operations. In: http://www.spe.org/. Society of Petroleum Engineers.
  • Willigers, Bart J. A.; Bratvold, Reidar Brumer (2008). Valuing Oil and Gas Options by Least-Squares Monte Carlo Simulation. In: http://www.spe.org/. Society of Petroleum Engineers.
  • Bickel, J. Eric; Bratvold, Reidar B (2008). From Uncertainty Quantification to Decision Making in the Oil and Gas Industry. Energy exploration & exploitation. ISSN 0144-5987. Volume 26. Booklet 5. p. 311-325.
  • Bratvold, Reidar B; Begg, Steve (2008). I would rather be vaguely right than precisely wrong: A new approach to decision making in the petroleum exploration and production industry. American Association of Petroleum Geologists Bulletin. ISSN 0149-1423. Volume 92. Booklet 10. p. 1373-1392. DOI: 10.1306/06040808070.
  • Sund, Knut Arne; Bratvold, Reidar Brumer (2008). Integrated Operations: How Effective is the Current Relationship between Operating Companies and Suppliers?. In: http://www.spe.org/. Society of Petroleum Engineers.
  • Bickel, J. Eric; Bratvold, Reidar Brumer (2007). Decision Making in the Oil and Gas Industry: From Blissful Ignorance to Uncertainty-Induced Confusion. In: spe.org/elibrary. Society of Petroleum Engineers.
  • Bratvold, Reidar Brumer; Bickel, J. Eric; Lohne, Hans Petter (2007). Value of Information in the Oil and Gas Industry: Past, Present, and Future. In: spe.org/elibrary. Society of Petroleum Engineers.
  • Welsh, Matthew; Begg, Steve; Bratvold, Reidar Brumer (2007). Efficacy of Bias Awareness in Debiasing Oil and Gas Judgments. Cognitive science. ISSN 0364-0213. p. 1647-1652.
  • Welsh, Matthew; Begg, Steve; Bratvold, Reidar Brumer (2007). Modeling the Economic Impact of Cognitive Biases on Oil and Gas Decisions. In: spe.org/elibrary. Society of Petroleum Engineers.
  • Bratvold, Reidar Brumer (2006). Case Studies for Comparison of Different Real Option Approaches. In: Proceedings: SPE Asia Oil and Gas Conference, Adelaide, Australia, 11 - 13 September 2006. Society of Petroleum Engineers.
  • Bratvold, Reidar Brumer (2006). Copulas: A New Technique to Model Dependence in Petroleum Decision Making. Journal of Petroleum Science and Engineering. ISSN 0920-4105.
  • Bratvold, Reidar Brumer (2006). Correcting Common Errors in Probabilistic Evaluations: Efficacy of Debiasing. In: Proceedings: SPE ATCE, San Antonio, Texas, 24 - 27 September 2006. Society of Petroleum Engineers.
  • Bratvold, Reidar Brumer (2006). Education for the Real World: Equipping Petroleum Engineers to Manage Uncertainty. In: Proceedings: SPE ATCE, San Antonio, Texas, 24 - 27 September 2006. Society of Petroleum Engineers.
  • Bratvold, Reidar Brumer; Bodawala, Jugal (2017). Portfolio Optimisation using Sipmath. UiS.
  • Bratvold, Reidar Brumer; Medina, Camilo (2017). Offshore Exploratory Drilling Campaigns During Low Oil Price Period: Maximizing Value Creation From Flexibility. UiS.
  • Kullawan, Kanokwan; Bratvold, Reidar Brumer; Fjelde, Kjell Kåre (2016). A Bayesian Framework for Real-Time Optimization of Well Placement. Universitetet i Stavanger. ISBN 978-82-7644-666-1. 165 p.
  • Yichen, Yang; Bratvold, Reidar Brumer (2016). A Reduced Order Model for Fast Predioction from an Oil Reservoir with a Gas Cap. Universitetet i Stavanger. 82 p.
  • Pham, Duc Viet; Bratvold, Reidar B (2015). The impact of biases on prospect evaluation and Exploration decisons. Universitetet i Stavanger. 54 p.
  • Bratvold, Reidar Brumer; Begg, Steve (2010). Making Good Decisions. Society of Petroleum Engineers.
  • Bratvold, Reidar B; Begg, Stephen Hope; Rasheva, Svitlana (2010). 2010 SPE Hydrocarbon Economics and Evaluation Symposium - Global Volatility : Surviving & Thriving - HEES 2010. Society of Petroleum Engineers. ISBN 978-1-55563-282-3.
  • Hong, Aojie; Bratvold, Reidar Brumer (2017). Value of Information from History Matching—How Much Information is Enough?. EAGE, the National IOR Centre of Norway; 2017-04-24 - 2017-04-27.
  • Hong, Aojie; Bratvold, Reidar Brumer; Lake, L. W. (2017). Integrating Model Uncertainty in Probabilistic Decline Curve Analysis for Unconventional Hydrocarbon Production Forecast. Society of Petroleum Engineers (SPE); 2017-09-27 - 2017-09-28.
  • Hong, Aojie; Bratvold, Reidar Brumer; Nævdal, Geir (2016). Realistic Application of EnKFon Capacitance-Resistance Models. IRIS; 2016-06-20 - 2016-06-22.
  • Hong, Aojie; Bratvold, Reidar Brumer; Nævdal, Geir (2016). Robust Production Optimization with Capacitance-Resistance Model as Proxy. The National IOR Centre; 2016-04-14.
  • Hong, Aojie; Bratvold, Reidar Brumer; Nævdal, Geir (2016). Robust Production Optimization with Capacitance-Resistance Model as Precursor. EAGE; 2016-08-29 - 2016-09-01.
  • Hong, Aojie; Bratvold, Reidar Brumer; Nævdal, Geir (2016). Using a Capacitance-Resistance Model as Proxy for Fast Robust Production Optimization. The National IOR Centre; 2016-04-26 - 2016-04-27.
  • Kullawan, Kanokwan; Bratvold, Reidar Brumer; Bickel, J. Eric (2016). Decision Analytics for Look-Ahead Decision-Making: Optimize Your Well and Save Your Money. SPE/EAGE; 2016-02-08 - 2016-02-10.
  • Bratvold, Reidar B (2015). How much information is enough? Value-of-information for IOR. 2015-04-28 - 2015-04-29.
  • Bratvold, Reidar B (2015). Uncertainty, Risk and Variability = Confusion.
  • Kullawan, Kanokwan; Bratvold, Reidar Brumer; Bickel, J. Eric (2015). Automated Geosteering With Look-Ahead Decision-Making: Optimize Your Well and Save Your Money. Drilling and Well Centre for Improved Recovery; 2015-09-22 - 2015-09-23.
  • Kullawan, Kanokwan; Bratvold, Reidar Brumer; Bickel, J. Eric (2015). Decision Analytics for Look-Ahead Decision-Making: Optimize Your Well and Save Your Money. SPE/EAGE; 2015-10-08 - 2015-10-10.
  • Begg, S.H.; Bratvold, Reidar B; Welsh, Matthew (2014). Uncertainty vs. Variability: What's the Difference and Why is it Important?. SPE; 2014-05-19 - 2014-05-20.
  • Bratvold, Reidar B; Thomas, Philip; Begg, S.H. (2014). Robust Discretization of Continuous Probability Distributions for Value-of-Information Analyses. IPTC; 2014-12-10 - 2014-12-12.
  • Kullawan, Kanokwan; Bratvold, Reidar B; Bickel, Eric J. (2014). Value Creation with Multi-Criteria Decision Making in Geosteering Operations. 2014-05-19 - 2014-05-20.
  • Kullawan, Kanokwan; Bratvold, Reidar Brumer; Bickel, J. Eric (2014). Decision Driven Drilling Operations. Drilling and Well Centre for Improved Recovery; 2014-09-24 - 2014-09-25.
  • Kullawan, Kanokwan; Bratvold, Reidar B; Bickel, J. Eric (2013). A Decision Analytic Approach to Geosteering Operations. Society of Petroleum Engineers; 2013-10-28 - 2013-10-30.
  • Thomas, Philip; Bratvold, Reidar B; Bickel, J. Eric (2013). The Risk of Using Risk Matrices. Society of Petroleum Engineers; 2013-09-30 - 2013-10-02.
  • Willigers, Bart J.A.; Begg, S.H.; Bratvold, Reidar B (2013). Combining Geostatistics With Bayesian Updating to Continually Optimize Drilling Strategy in Shale Gas Plays. European Association of Exploration Geologists; 2013-06-10 - 2013-06-13.
  • Rasheva, Svitlana; Bratvold, Reidar B (2011). A New and Improved Approach for Geological Dependency Evaluation for Multiple-Prospect Exploration. 2011-10-30 - 2011-11-02.
  • Bratvold, Reidar Brumer (2010). Probabilistic Modelling for Decision Support in Drilling Operations. 2010-03-23 - 2010-03-25.
  • Bratvold, Reidar Brumer; Begg, Steve (2010). A New Approach to Uncertainty Quantification for Decision Making. 2010-03-08 - 2010-03-09.
  • Rajaieyamchee, Mohammad; Bratvold, Reidar Brumer (2010). A Decision Analytic Framework for Autonomous Geosteering. 2010-09-20 - 2010-09-22.
  • Rajaieyamchee, Mohammad; Bratvold, Reidar Brumer (2010). Bayesian Decision Networks for Optimal Placement of Horizontal Wells. 2010-06-14 - 2010-06-17.
  • Jafarizadeh, Babak; Bratvold, Reidar Brumer (2009). Real Options Analysis in Petroleum Exploration and Production: A New Paradigm in Investment Analysis. 2009-06-08.
  • Jafarizadeh, Babak; Bratvold, Reidar Brumer (2009). Strategic Decision Making in the Digital Oil Field. 2009-04-07 - 2009-04-08.
  • Jafarizadeh, Babak; Bratvold, Reidar Brumer (2009). Taking Real Options into the Real World: Asset Valuation through Option Simulation. 2009-10-04 - 2009-10-07.
  • Rajaieyamchee, Mohammad; Bratvold, Reidar Brumer (2009). Real-time Decision Support in Drilling Operations using Bayesian Decision Networks. 2009-10-04.
  • Willigers, B.J.A.; Bratvold, Reidar Brumer; Hausken, Kjell (2009). A Game Theoretic Approach to Conflicting and Evolving Stakeholder Preferences in the E&P Industry. 2009-10-04 - 2009-10-07.
  • Begg, Steve; Bratvold, Reidar Brumer (2008). Systematic Prediction Errors in O&G Project and Portfolio Selection. 2008-09-21 - 2008-09-24.
  • Bratvold, Reidar Brumer; Sund, Knut Arne (2008). Integrated Operations: How Effective is the Current Relationship between Operating Companies and Suppliers?. 2008-02-25 - 2008-02-27.
  • Fjellheim, Roar A.; Bratvold, Reidar Brumer; Herbert, MIke (2008). CODIO - Collaborative Decisionmaking in Integrated Operations. 2008-02-25 - 2008-02-27.
  • Willigers, Bart J. A.; Bratvold, Reidar Brumer (2008). Valuing Oil and Gas Options by Least-Squares Monte Carlo Simulation. 2008-09-21 - 2008-09-24.
  • Arild, Øystein; Lohne, Hans; Bratvold, Reidar Brumer (2008). A Monte Carlo Approach to Value of Information Evaluation. 2008-12-03 - 2008-12-05.
  • Bickel, J. Eric; Bratvold, Reidar Brumer (2007). Decision Making in the Oil and Gas Industry: From Blissful Ignorance to Uncertainty-Induced Confusion. 2007-11-11 - 2007-11-14.
  • Bratvold, Reidar Brumer (2007). Decision-making in the Oil & Gas Industry ? From Blissful Ignorance to Uncertainty Induced Confusion. 2007-11-01.
  • Bratvold, Reidar Brumer (2007). Would You Know a Good Decision if You Saw One?. 2007-09-20 - 2007-09-21.
  • Bratvold, Reidar Brumer; Bickel, J. Eric; Lohne, Hans Petter (2007). Value of Information in the Oil and Gas Industry: Past, Present, and Future. 2007-11-11 - 2007-11-14.
  • Welsh, Matthew; Begg, Steve; Bratvold, Reidar Brumer (2007). Efficacy of Bias Awareness in Debiasing Oil and Gas Judgments. 2007-08-01 - 2007-08-04.
  • Welsh, Matthew; Bickel, J. Eric; Bratvold, Reidar Brumer (2007). Modeling the Economic Impact of Cognitive Biases on Oil and Gas Decisions. 2007-11-11 - 2007-11-14.